Pepe's is great American Mexican food. That is where I learned to make guacamole.
We alway enjoyed Andale's - Great music (classic rock), dancing, over 30 crowd, off the beaten path, great drinks.
I am not sure PV is as safe as it used to be, but my wife and I felt totally comfortable walking everywhere. We even got turned around leaving a restaurant, thought we were walking toward the Malecon, and wound up in a shanty like town. People were very friendly and pointed us in the right direction to find a taxi. It was a little scary and shocking to see how people can live.
Yelapa is a great place to hang out for the day - arrange through a tour place or hire water taxi.
Depending how adventurous you are, here is a great and cheap trip for the day. Take a bus down to Boca de Tomatlán. From Boca, there is a trail that follows the ocean through peoples houses down to Las Animas. After hiking to Las Animas, enjoy a beer on the beach then grab a water taxi back to Boca. From Boca, take the bus back to PV. A local told us the locals fully expect people to come walking through and are really friendly (There are no roads, so everything is carried or boated in). This is the best "excursion" my wife and I have been on and it was only $1 for the bus and $5 for the water taxi. Google Boca de Tomatlán trail - here is an example of good information - http://www.villaencantada.com/puerto...ca-animas.html
Have fun - I want to go on vacation.